Latin America shares Arab concerns on many issues: King

[gallery td_select_gallery_slide="slide" ids="13225,13224"] Saudi Gazette report   RIYADH — Custodian of the Two Holy Mosques King Salman emphasized that the opportunities for further strengthening economic ties among Arab and South American countries are promising. Inaugurating the 4th Arab and South American Summit at the King Abdulaziz International Conference Center here on Tuesday evening, the King expressed satisfaction over the convergence of views among leaders of the participating countries toward a number of international issues and problems, the Saudi Press Agency reported. The King also commended the positive positions of the friendly nations of South America that are supportive of the Arab causes, especially the Palestine issue. Several world leaders, including UN Secretary General Ban Ki-moon and President Abdel Fattah El-Sisi of Egypt also addressed the opening session of the two-day summit that aims to strengthen ties between the geographically distant but economically powerful regions. King Salman vowed the Kingdom’s keenness to develop and enhance bilateral ties with all the Arab and South American states in various fields. The King expressed happiness over the growth and prosperity achieved by the Arab and South American countries. “The chances of developing the economic relations between our countries are promising, with good tidings to achieve development and prosperity of our countries, leading us to overcome the obstacles and constraints and encourage and support the flow of investments, exchange of experiences and technology transfer.” King Salman appreciated the achievements of the previous three summits, saying that “we look forward to coordinating our collective positions toward issues at the global arena, notably, the fight against terrorism and extremism, besides spreading the culture of peace and dialogue.” The King lauded the excellent growth in the bilateral trade exchange and volume of investments ever since the first summit in Brasilia in 2005. “We pin hope on achieving more progress in this field. Hence, we call for the establishment of councils of businessmen, as well as to explore the prospect of signing free trade agreements, and avoiding double taxation, in addition to encouraging and protecting investments in between the countries of the two regions, which will provide a legal and regulatory framework to boost trade flows among them,” the King added.